Free Trial

Real Yields Continue To Swing, Back At New Cycle Highs

US TSYS
  • The surge higher in 10Y nominal yields (+15bps) has been primarily a re-adjustment in real terms, moving back above pre-FOMC levels as real yields rise 16bps to 21.5bps for the highest since Dec’19 (barring the Mar’20 spike).
  • The 10Y inflation breakeven has dipped only slightly on this, -1bp at 2.87%, 4-5bps above pre-FOMC levels but still at the low end compared to the past month with highs above 3%.

10Y real yield (green), nominal yield (white) and breakeven (yellow)Source: Bloomberg

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.